Ways2Capital Reviews : Broker Radar For June 12

CLSA on Indian Pharma
  • Investments in differentiated products began 3-4 years ago.
  • Differentiated portfolio strategy has crystallised substantially over the years.
  • Sun Pharma provides highest visibility on pipeline monetisation.
  • Strong execution from Sun can lead to re-rating.
Goldman Sachs on Steel
  • Steel spreads remain resilient despite cost increase.
  • Expect spreads to cool off from current levels but remain above mid-cycle levels.
  • JSW Steel will benefit from robust spreads and upward revisions of earnings.
  • JSW Steel maintained ‘Buy’; raised price target from Rs360 to to Rs390.
HSBC on GAIL (India)
  • Maintained ‘Hold’; raised price target from Rs325.5 to Rs355.
  • Positives: Improving transmission profitability, lower US LNG contract and rising petrochemical volumes.
  • Next trigger is decision on unified tariff.
  • Raise earnings estimates for the current and the next financial year by 8% each.
Nomura on Dr. Reddy’s
  • Maintained ‘Buy’ with a price target of Rs2,704.
  • gSuboxone launch in the near term likely.
  • Earnings impact to depend on competitive landscape, likely to be limited for three years.
  • Expect annualised EPS impact at Rs62.5 with no additional generics.
  • With competition intensifying EPS contribution to fall to Rs2.5.
Source: Media Reports
 
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